Corporate Governance and Codes of Ethics

Paper Info
Page count 2
Word count 731
Read time 3 min
Subject Business
Type Essay
Language 🇺🇸 US

What are the major elements that may be included in a strategy to implement business ethics management?

Ethics training, managing the relationship with stakeholders, the performance of social auditing, ethics consultations, mission values, hotlines channels for reporting, and code of ethics to govern the organizational operations (Tsalikis & Fritzsche, 2013).

What are the 4 different types of codes of conduct?

Professional codes are applied for professional members in fields such as law, medicine, and accounting. Organizational codes regulate operations in an organization. Group codes certify that firms meet certain criteria while industrial codes govern the relationship between a company and its customers.

What key elements should be included in a code of conduct?

They include labor standards, cases of corruption, environmental protection, and the safeguarding of customers (Stohl, Stohl, & Popova, 2009). The personal responsibilities section indicates the tasks that each employee is supposed to perform. It indicates the legal and moral consequences that apply to the violation of individual responsibilities. The management support section shows that managers in an organization support the code of ethics by promoting open-door policies, which allows staff members to report ethical violations without fear of victimization. Some organizations display a signed code of ethics in common areas like tearoom where it is easily visible.

Values are expressed depending on how the organization carries out its daily activities. Also, the company should state its vision and mission include its stand on honesty and fairness.

Principles support the values of the firm by elaborating employees’ operational protocols. They contain aspects such as customer satisfaction, continuous improvements, and the making of profits. Another useful principle is the company’s engagement in corporate social responsibly as well as protecting the environment.

What are ethics hotlines/reporting-lines?

These are channels that are used to report malicious happenings at the workplace. They are important in maintaining a free and fair working environment.

What is the role of leadership in establishing an ethical operation?

It enables leaders to build a good relationship with employees through the promotion of trust and respect at the workplace (Michelfelder & Jones, 2013).

What is the role of ethical “culture” in establishing an ethical operation?

It defines the norms and traditions of doing things thus creating boundaries for operations.

Our relations with all stakeholders likely to be smooth and cooperative initially?

No. Not everyone will initially buy the ideas or the codes set up for operations.

What is the main limitation of global codes of conduct?

There is a lack of distinction between right and wrong due to variations in the culture of various communities, societies, and countries thus necessitating a need for adjustments (Burmeister, 2013).

Why is enforcement a critical issue with regards to the effectiveness of codes of conduct?

Organizations need to introduce disciplinary actions like punishment for employees found guilty as well as close monitoring of behaviors so that the codes are not ignored (Tsalikis & Fritzsche, 2013).

Why has the use of ethics hotlines increased so rapidly in recent years?

There has been a rise in reports and incidences of malicious activities such as bribery, financial irregularities (issues with audits and auditing errors), and security concerns, which cause identity theft and violate customers’ privacy.

How can a firm assess the effectiveness of its ethics policies and procedures?

There should be education such that employees set their commitment to conducting an open door policy of whistleblowing in the event of any wrongdoing (DesJardins & McCall, 2014). The business should ensure that the whistleblowers remain anonymous and be protected when malicious issues are reported.

Why do corporations regard ethics hotlines as an important tool to manage risk?

They provide a cost-effective method of handling transparency issues. They also save organizations from the losses that accompany corruption cases. Hotlines help to maintain a good relationship with the community by reporting evil activities on time.

What are the key components of a good ethics hotline system?

Confidentiality and anonymity of the whistleblowers should be maintained to avoid retaliation. There should be an emphasis that all whistleblowers will be protected from victimization. Whistleblowing incentives should be offered by companies in the form of cash or vacations to promote transparency (Rodriguez-Dominguez, Gallego-Alvarez, & Garcia-Sanchez, 2009).

Why might employees still resist using an ethics hotline?

Employees may fear being named “snitches,” risking the advancement of their careers and dismissal. Additionally, some organizations encourage whistleblowing but do not act on the disclosed information


Burmeister, O. K. (2013). Achieving the goal of a global computing code of ethics through an international-localization hybrid. Ethical Space, 10(4), 25-32.

DesJardins, J. R., & McCall, J. J. (2014). Contemporary issues in business ethics. Boston, MA: Cengage Learning.

Michelfelder, D., & Jones, S. A. (2013). Sustaining engineering codes of ethics for the twenty-first century. Science and Engineering Ethics, 19(1), 237-258.

Rodriguez-Dominguez, L., Gallego-Alvarez, I., & Garcia-Sanchez, I. M. (2009). Corporate governance and codes of ethics. Journal of Business Ethics, 90(2), 187-202.

Stohl, C., Stohl, M., & Popova, L. (2009). A new generation of corporate codes of ethics. Journal of Business Ethics, 90(4), 607-622.

Tsalikis, J., & Fritzsche, D. J. (2013). Business ethics: A literature review with a focus on marketing ethics. In Michalos, ‎A. C. & Poff, D. C. (Eds.), Citation Classics from the Journal of Business Ethics (pp. 337-404). New York: Springer.

Cite this paper


EduRaven. (2021, October 21). Corporate Governance and Codes of Ethics. Retrieved from


EduRaven. (2021, October 21). Corporate Governance and Codes of Ethics.

Work Cited

"Corporate Governance and Codes of Ethics." EduRaven, 21 Oct. 2021,


EduRaven. (2021) 'Corporate Governance and Codes of Ethics'. 21 October.


EduRaven. 2021. "Corporate Governance and Codes of Ethics." October 21, 2021.

1. EduRaven. "Corporate Governance and Codes of Ethics." October 21, 2021.


EduRaven. "Corporate Governance and Codes of Ethics." October 21, 2021.


EduRaven. 2021. "Corporate Governance and Codes of Ethics." October 21, 2021.

1. EduRaven. "Corporate Governance and Codes of Ethics." October 21, 2021.


EduRaven. "Corporate Governance and Codes of Ethics." October 21, 2021.